Businesses across the Lower Mainland report feeling “anxious” about the minority government the way it stands in British Columbia, according to the results of a new Greater Vancouver Board of Trade (GVBOT) survey.
More than three quarters of all businesses – 76% – say they are less confident about the future of the provincial economy than they were pre-election. Iain Black, GVBOT president and CEO, called the results “troubling,” saying this uncertainty could influence business investment and staffing decisions.
“We see this as a clear indication that the business community does not like uncertainty,” Black said. “This is not necessarily a reflection of any of the parties involved, but rather, the murky waters that we currently find ourselves in.
“Minority governments are historically very unstable, with an average lifespan of only 18 months. That lack of stability makes business owners and investors very apprehensive.”
See also: Small business in B.C. braces for minority government
The top concern among businesses was housing affordability, with 40% of all respondents saying this was the province’s most pressing issue. This was followed closely by transit and transportation (39.6%), tax competitiveness (28%), jobs (28%) and energy issues (24%).
Source: GVBOT press release
Not everyone has a negative outlook when it comes to B.C.’s future. The survey found 10% of business are actually more confident than they were before the election. Fourteen per cent say their outlooks are unchanged.
@EmmaHampelBIV
